Written By: Ujjwal Matoliya
CLASS – XI (Financial Accounting)
Question Wise Marks Distribution
|
S.No |
Unit / Chapter |
Total Marks |
Objective (1) |
SA-I (3) |
SA-II (4) |
LA-I (6) |
LA-II (8) |
Total Q. No. |
|
1 |
Accounting: An Introduction |
05 |
01 |
— |
1(T)* |
— |
— |
1(1) |
|
2 |
Theory Base of Accounting |
04 |
01 |
1(T) |
— |
— |
— |
1(1) |
|
3 |
Recording of Transactions – I |
09 |
01 |
— |
1(T), 1(N) |
— |
— |
2(1) |
|
4 |
Recording of Transactions – II |
09 |
— |
1(N) |
1(N)* |
— |
— |
2(0) |
|
5 |
Bank Reconciliation Statement |
08 |
01 |
1(T) |
1(N)* |
— |
— |
2(1) |
|
6 |
Trial Balance & Rectification
of Errors |
08 |
01 |
1(T) |
1(N)* |
— |
— |
2(1) |
|
7 |
Depreciation, Provisions &
Reserves |
10 |
02 |
— |
— |
— |
1(N)* |
1(2) |
|
8 |
Financial Statement – I |
12 |
02 |
— |
— |
1(N)* |
1(N)* |
2(2) |
|
9 |
Financial Statement – II |
15 |
01 |
— |
— |
1(N)* |
1(N)* |
2(1) |
Note:
-
Brackets ke andar question ki sankhya hoti hai.
-
Bahar wale number marks batate hain.
-
T = Theory Question
-
N = Numerical Question
UNIT WISE DIVISION OF MARKS
Part – 1: Financial Accounting (50 Marks)
Chapter 1
Accounting: An Introduction
Meaning of Accounting:
Economic Events, Identification, Measuring, Recording and Communicating, Organization, Intended Users of Information, Accounting as a Source of Information.
Qualitative Characteristics of Accounting
Objectives of Accounting:
-
Keeping record of business transactions
-
Calculating Profit or Loss
-
Displaying Financial Position
-
Providing Information to Users
-
Role of Accounting
Basic Terms of Accounting:
Unit, Transaction, Assets, Liabilities, Capital, Sales, Revenue, Expenditure, Capital Expenditure, Profit, Accretion, Loss, Discount, Vouchers, Goods, Purchase, Drawing, Stock, Debtors, Creditors.
Chapter 2
Theory Base of Accounting
Generally Accepted Accounting Principles (GAAP)
Basic Accounting Assumptions:
-
Accounting Entity Assumption
-
Money Measurement Assumption
-
Going Concern Assumption
-
Accounting Period Assumption
Main Concepts:
Cost Concept, Dual Aspect Concept, Revenue Recognition Concept, Revenue Expenditure Matching Concept, Full Disclosure Concept
Basis of Accounting:
Cash Basis, Accrual Basis, Hybrid Basis
Accounting Principles:
Meaning, Characteristics, Main Principles
Accounting Standards:
Meaning, Need, Nature, Benefits of Standards, Limitations of Accounting Standards
Double Entry System:
Meaning, Characteristics, Objects, Merits, Demerits, Principles & Stages.
Chapter 3
Recording of Transactions – I
Business transactions and source documents
Preparation of accounting invoices
Accounting equation
Use of debit and credit
Rules of debit and credit
Books of original entry – Journal
Classification of ledger accounts
Posting from Journal to Ledger.
Chapter 4
Recording of Transactions – II
Cash Book –
-
Single Column Cash Book
-
Two Column Cash Book
-
Petty Cash Book
Balance of Cash Book
Purchases Book
Purchase Returns Book
Sales Book
Sales Returns Book
Journal Proper
Balance of Accounts.
Chapter 5
Bank Reconciliation Statement
Need for Bank Reconciliation Statement –
-
Time difference
-
Difference due to errors
Preparation of Bank Reconciliation Statement –
-
Without adjustments in Cash Book
-
With the help of Adjusted Cash Book.
Chapter 6
Trial Balance and Rectification of Errors
Meaning of Trial Balance
Objects of Preparation of Trial Balance
Determination of Arithmetical Accuracy of Ledger Accounts
Helping in Detecting Errors
Helping in Preparation of Financial Statements
Preparation of Trial Balance –
-
Total Method
-
Balance Method
-
Balance and Total Method
Importance of Matching Trial Balance
Classification of Errors:
-
Accounting Errors
-
Omission Errors
-
Error of Commission
-
Compensating Errors
Detecting Errors
Rectification of Errors –
-
Errors which do not affect Trial Balance
-
Errors affecting Trial Balance
-
Rectification of Errors in the Next Accounting Year.
Chapter 7
Depreciation, Provision and Reserves
Meaning of Depreciation
Characteristics of Depreciation
Depreciation and Related Terms –
Depletion, Amortization
Causes of Depreciation –
Diminution in value due to wear and tear, expiry of time, expiry of legal title, obsolescence, abnormal elements
Need for Depreciation –
Matching of income and cost, tax significance, true and fair financial position, compliance with law
Factors affecting amount of depreciation –
Cost of asset, Estimated net residual value, Estimated useful life
Methods of computing depreciation –
-
Straight Line Method
-
Reducing Balance Method
Comparative analysis between Straight Line and Reducing Balance Method
Base of charging depreciation
Annual charge of depreciation
Charge of depreciation and repair expenses to Profit and Loss Account
Recognition of income tax law
Usefulness
Methods of recording depreciation –
-
Charge of depreciation to asset account
-
Provision for depreciation / Accumulated depreciation account
Disposal / Sale of Assets Account
Utility of Asset Disposal Account
Addition and Increase in Current Assets
Provision – Accounting for Provisions
Reserves –
Difference between Reserves and Provisions
Importance of Reserves
Secret Reserves.
Part – 2: Financial Accounting (30 Marks)
Chapter 8
Financial Statements – I
Requirements of Stakeholders and their informations
Distinction between Capital and Revenue – Capital expenditure, Receipts
Importance of distinction between capital and revenue
Financial Statements –
Trading and Profit and Loss Account
Relevant elements of Trading and Profit and Loss Account
Closing entries
Concept of Gross Profit and Net Profit
Reconciliation of Cost of Goods Sold and Closing Stock to Trading Account
Balance Sheet –
Preparation of Balance Sheet
Relevant items of Balance Sheet
Sequencing and grouping of assets and liabilities.
Chapter 9
Financial Statements – II
Need for adjustments –
Closing stock
Outstanding expenses
Prepaid expenses
Accrued income
Income received in advance
Depreciation
Bad debts
Provision for doubtful debts
Provision for discount on debtors
Manager commission
Interest on capital.